2020 was a year for the record books. It’s one that we’ll remember forever. It was a year of change where our collective patience and ability to adapt was tested. Many of us are ready to put this year behind us, but before we do, let’s take a look back at some of its bright spots. We wanted to share a look back at major events from our portfolio companies, insights from the team, and give a sneak peek of the year ahead.
Over the past several months, as the pandemic has raged globally, the restaurant industry has experienced some of the most dramatic changes in customer behavior and expectations. The operators have adopted new strategies to drive sales. For example, they are executing higher volumes of family-oriented marketing tactics like meal kits, kids eat free campaigns, and elderly-only hours. They are creating campaigns to support local communities, like offering discounts for healthcare workers and first responders or giving away gift cards. Restaurants are also increasing deployment of digital innovations such as online ordering, curbside pickup, contactless delivery and contactless payments.
The shifts have accelerated the digital transformation of the restaurant industry, making it vital for brands to adjust their near and long-term business operations. The role of technology has been enhanced. The complex tech stack including systems for point-of-sale, ordering, payments, delivery, loyalty, ERP, and kitchen display systems, is being re-evaluated. For restaurants that pride themselves on creating and serving good quality food, they are demanding better technology solutions to enable their business operations. …
One of the lessons that the last few months have taught us is that remote work is here to stay. Love it or hate it, where and how we work is changing. Let’s take a look at the past, present, and future of remote work and how SaaS tools, like CloudApp (a Cervin portfolio company), are helping drive the transition.
The past
Many companies started experimenting with remote work arrangements years ago — even before the global COVID-19 pandemic. Surveys show that in the pre-COVID world, 57% of Gen Zers, 50% of Millennials, and even 46% of Gen Xers worked from home at least once a week. …
The holiday season and the associated retail rush is right around the corner. Of course, this year, it will look a little different as a result of COVID-19, but that’s all the more reason for retailers and brands to prepare for the holiday season and the new challenges it’s sure to bring this year - for instance an increase in online shopping and use of curbside pickup services.
One way to prepare for and tackle the upcoming season’s potential challenges is with easily interpreted high-quality data that is used to guide decision-making. Getting this data doesn’t take an army of in-house data analysts, it can be provided by solutions like Bungee Tech. For retailers and brands of all sizes, it’s especially important to monitor things like competitor data, stock levels, and promotion performance. …
5G just got real
At the latest Apple product release event, the CEO of Verizon made this pronouncement — “5G just got real”. Apple’s new line of phones has incorporated 5G and this will begin the process of unleashing a myriad of applications. At Cervin, we’ve been actively exploring enterprise use cases for 5G and have written both about The Coming Tsunami of 5G Networks and Enterprise 5G in the age of WiFi.
Cervin GP, Shirish Sathaye says, “The designers of 3G never imagined applications like Google Maps, the architects of 4G never imagined the on-demand economy. Who knows what applications will be powered by 5G?”. 5G’s impressive speed and latency will revolutionize both consumer and enterprise markets. …
A conversation with the CEO of Bedrock Analytics
Words aren’t the only way to tell a story. Consumer packaged goods (CPG) brands want to interpret data to understand their business performance and make a stronger case to retailers. Small to mid-size CPG brands want to be more competitive with large brands that have in-house teams of analysts at their disposal. Technology can help level the playing field.
We spoke with Will Salcido, the CEO of Bedrock Analytics, a Cervin portfolio company, that uses machine learning to take syndicated & retail data and transform it into dynamic selling stories. …
By: Samir Shah, Operating Partner
I ran a startup for ten years. As I look back on that time, I wonder if I had completely thought through how much responsibility I was taking on when I decided to start my own company.
This reflection is sparked by talking to entrepreneurs today, listening to their earnest pitches, and watching them execute the oh-so-important first couple of years. I hope that they are aware of how much responsibility they have taken on and in which areas. As a first time entrepreneur, nothing in your past really prepares you for this. …
Ransomware is a type of malware that threatens to publish the victim’s data or perpetually block access to it unless a ransom is paid. Ransomware attacks have become a major issue in the cybersecurity space. According to Forbes June 2020 research, 51% of organizations have been impacted in the last 12 months alone.
We spoke with Ritesh Agrawal, the CEO and co-founder of Airgap, a Cervin portfolio company in the cybersecurity space, to discuss the issue of ransomware and what companies can do to protect themselves.
Q: Why are ransomware attacks becoming more prevalent?
A: It comes down to one thing — money. Some speculate that it has to do with the rise in cryptocurrency, which is how most ransoms are paid. Since cryptocurrency is so difficult to trace, it has made hackers bolder. Others speculate that challenging economic times, like the ones brought about by COVID-19, have contributed to increased ransomware attacks. …
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